Developments in Money Market and Inter-bank Market (March 29-April 2, 2021)
1. Forex market and exchange rates:
By end of March 29, 2021, the buying and selling exchange rates quoted on the website of the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) were VND 22,980/23,160 per USD, down by 15 VND per USD for both buying and selling exchange rates as compared to those of the last working day of the previous week (March 26, 2021). During the week, the exchange rates fluctuated slightly, not exceeding 10 VND per USD. By end of April 2, the exchanged rates were quoted at VND 22,980/23,160 per USD, unchanged as compared to the rates of March 29, 2021.
2. Inter-bank transaction operations:
2.1. Transactions:
According to the reports submitted by the credit institutions and the foreign bank branches, the total amount of transactions in the inter-bank market within the week reached approximately VND 571,020 billion, an average of VND 114,204 billion per day, an increase of VND 9,959 billion per day as compared to the previous week (March 22-26, 2021); meanwhile the transaction amount in USD was equivalent to VND 148.521 billion, an average of VND 29.704 billion per day, an increase of VND 256 billion per day as compared to the previous week.
Most VND transactions were for overnight term and 1-week term, accounting for 76% and 13% of the total amount of VND transactions respectively. The transactions in USD were mostly for overnight term and 1-week term, accounting for 78% and 15% of the total amount of USD transactions respectively.
2.2. Inter-bank interest rates:
- For transactions in VND: The average inter-bank interest rates fluctuated slightly in comparison with those of the previous week. Specifically, the average inter-bank interest rates for overnight, 1-week and 1-month terms were 0.25% p.a, 0.46% p.a and 0.63% p.a respectively.
- For transactions in USD: The average inter-bank interest rates fluctuated slightly for all terms. Specifically, the average inter-bank interest rates for overnight, 1-week and 1-month terms were 0.1% p.a, 0.12% p.a and 0.27% p.a respectively.
The specific average inter-bank interest rates were as follows:
Unit: % p.a
Overnight |
1-week |
2-week |
1-month |
3-month |
6-month |
9-month |
|
VND |
0.25 |
0.46 |
0.52 |
0.63 |
1.54 |
2.61 |
2.87 |
USD |
0.10 |
0.12 |
0.16 |
0.27 |
0.38 |
0.95 |
1.00 |
Translated by Le Hang